Canouan Island Resort to Change Management

Canouan Resorts Development Ltd (CRD) has announced that, after a five-year partnership, Raffles/Fairmont Resorts will no longer manage Canouan Island Resort in St. Vincent and the Grenadines. The resort will revert back to ownership operation as Carenage Bay Resort beginning May 20, when it will resume taking reservations.

"In keeping with the serious reduction in business to the Caribbean, it has been decided that the business model of the Resort product in Canouan will therefore be undergoing changes within the coming months," wrote Achille Pastor-Ris, president of CEO of CRD, in a statement. "Canouan Resorts Development Ltd's real estate division The Grenadines Estate and construction company CCA Ltd have and continue to successfully develop the private residences, which now include 30 homes with over 100 bedrooms. It is anticipated that a Villa Rental program will be introduced during 2011. It is the intention of the ownership, CRD Ltd as Carenage Bay to continue to provide first class services to home owners and their guests which will include, for the time being, a reduced hotel services operation."

Visit www.canouan.com.

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